12
July
2009
The Government of the Republic of Buryatia and IFC METROPOL sign an agreement establishing the Republic of Buryatia Development Corporation LLC. The agreement also covers the two sides’ cooperation within the frameworks of the Comprehensive Trans-Baikal Development investment project
IFC METROPOL used the Trans-Baikal Economic Forum’s
International Economic Conference in Buryatia to sign a
multilateral agreement of intent. The agreement involved: the
Property Fund of the Republic of Buryatia (a Specialized
State Agency); the IFC METROPOL LLC; the OGK-3 (Third Wholesale
Generation Company) JSC, the TGK-14 (14th Territorial Generation
Company) JSC; the Baikal Timber Company JSC; the Intergeo
Management Company LLC; the Vertex Mining Company CJSC; and the
AKROPOL Group LLC.
Within the frameworks of their Agreement with the Republic of
Buryatia, IFC METROPOL and the project’s other participants intend
to the use the public-private partnership to implement the
Comprehensive Trans-Baikal Development investment project.
According to the agreement of intent, the infrastructure required
by investors to implement their Comprehensive Trans-Baikal
Development investment projects will be financed by the
state. The Republic of Buryatia Development Corporation LLC,
which was established within the project’s frameworks, will sponsor
the investors’ joint application to the Investment Fund of the
Russian Federation.
